BTIG downgrades VinFast Auto to Neutral with profitability ‘elusive’

As previously reported, BTIG downgraded VinFast Auto (VFS) to Neutral from Buy with no price target after the company reported Q4 results. Delivery guidance was maintained, but the firm expects profitability to be “a major focus for investors” as EV pricing continues to move lower globally, pushing out profitability breakeven for VinFast. Profitability “remains elusive for now,” the analyst added.